EPAM Systems Inc (EPAM)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total assets	US$ in thousands	4,352,360	4,009,150	3,523,230	2,721,330	2,244,210
Total stockholders’ equity	US$ in thousands	3,470,890	3,001,530	2,487,120	1,983,020	1,596,140
Financial leverage ratio		1.25	1.34	1.42	1.37	1.41

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $4,352,360K ÷ $3,470,890K
= 1.25

The financial leverage ratio of EPAM Systems Inc has shown a slight decreasing trend over the past five years, from 1.41 in 2019 to 1.25 in 2023. This indicates a decreasing reliance on debt to finance the company's operations and growth. A lower financial leverage ratio suggests a lower level of financial risk and greater financial stability. However, it is essential to consider the company's overall financial strategy and industry benchmarks when evaluating the significance of this trend.